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ELST - 10- And 30-Year Interest Rates Up Yesterday's Close Moderated Headline Risk Neutralized. New Highs Here We Come
Electronic Sys Technology
We didn't surge into the close, and this was a good thing
In yesterday's note, I introduced the possibility of a melt-up. Such an occurrence is hard to recognize when it is happening because a rally is a good thing. We all know however that too much of a good thing is a bad thing; good thing that melt-ups are rare. What brought that concern was the mechanical nature of the closes we've had this week. Yesterday, while we did close higher, the high was moderated toward the end, ending the pattern. Yet, there is